^TNX vs. TMV
Compare and contrast key facts about Treasury Yield 10 Years (^TNX) and Direxion Daily 20-Year Treasury Bear 3X (TMV).
TMV is a passively managed fund by Direxion that tracks the performance of the NYSE 20 Year Plus Treasury Bond Index (-300%). It was launched on Apr 16, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^TNX or TMV.
Key characteristics
| ^TNX | TMV | |
|---|---|---|
| YTD Return | 8.17% | 15.14% |
| 1Y Return | -15.07% | -35.10% |
| 3Y Return (Ann) | 36.49% | 31.46% |
| 5Y Return (Ann) | 18.99% | 5.13% |
| 10Y Return (Ann) | 6.31% | -9.04% |
| Sharpe Ratio | -0.68 | -0.68 |
| Sortino Ratio | -0.89 | -0.81 |
| Omega Ratio | 0.91 | 0.91 |
| Calmar Ratio | -0.29 | -0.32 |
| Martin Ratio | -1.00 | -0.91 |
| Ulcer Index | 16.10% | 34.18% |
| Daily Std Dev | 23.77% | 45.84% |
| Max Drawdown | -93.78% | -99.06% |
| Current Drawdown | -47.87% | -96.99% |
Correlation
The correlation between ^TNX and TMV is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
^TNX vs. TMV - Performance Comparison
In the year-to-date period, ^TNX achieves a 8.17% return, which is significantly lower than TMV's 15.14% return. Over the past 10 years, ^TNX has outperformed TMV with an annualized return of 6.31%, while TMV has yielded a comparatively lower -9.04% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Risk-Adjusted Performance
^TNX vs. TMV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 10 Years (^TNX) and Direxion Daily 20-Year Treasury Bear 3X (TMV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Drawdowns
^TNX vs. TMV - Drawdown Comparison
The maximum ^TNX drawdown since its inception was -93.78%, smaller than the maximum TMV drawdown of -99.06%. Use the drawdown chart below to compare losses from any high point for ^TNX and TMV. For additional features, visit the drawdowns tool.
Volatility
^TNX vs. TMV - Volatility Comparison
The current volatility for Treasury Yield 10 Years (^TNX) is 5.90%, while Direxion Daily 20-Year Treasury Bear 3X (TMV) has a volatility of 9.26%. This indicates that ^TNX experiences smaller price fluctuations and is considered to be less risky than TMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.